Pershing Square Correlations

PSH Stock

USD 45.45 0.60 1.34%

The current 90-days correlation between Pershing Square Holdings and Instalco Intressenter AB is -0.14 (i.e., Good diversification). The correlation of Pershing Square is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Pershing Square Correlation With Market

Good diversification

The correlation between Pershing Square Holdings and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pershing Square Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Pershing Square could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pershing Square when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pershing Square - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pershing Square Holdings to buy it.

Moving together with Pershing Stock

0.68	HAL	HAL Trust	Pair Corr
0.61	EAS2P	Ease2pay NV	Pair Corr

Moving against Pershing Stock

0.48	TFG	Tetragon Financial	Pair Corr
0.47	NEDSE	NedSense Enterprises	Pair Corr
0.43	BGHL	Boussard and Gavaudan	Pair Corr
0.41	FAST	Fastned BV	Pair Corr
0.38	REINA	Reinet Investments SCA	Pair Corr
0.37	PRX	Prosus NV Earnings Call This Week	Pair Corr

Related Correlations Analysis

	INSTAL	ENX	IUHE	AALB	IAPD	CCEP	CSPX	VUSA	WTCH	RAND
INSTAL		-0.68	0.89	0.17	-0.74	-0.06	-0.9	-0.9	-0.84	-0.09	INSTAL
ENX	-0.68		-0.62	-0.43	0.6	0.17	0.61	0.61	0.54	0.07	ENX
IUHE	0.89	-0.62		0.17	-0.62	-0.06	-0.8	-0.8	-0.75	0.09	IUHE
AALB	0.17	-0.43	0.17		0.16	0.04	-0.05	-0.05	-0.05	0.28	AALB
IAPD	-0.74	0.6	-0.62	0.16		-0.16	0.81	0.81	0.8	0.55	IAPD
CCEP	-0.06	0.17	-0.06	0.04	-0.16		0.12	0.12	0.01	-0.5	CCEP
CSPX	-0.9	0.61	-0.8	-0.05	0.81	0.12		1.0	0.97	0.15	CSPX
VUSA	-0.9	0.61	-0.8	-0.05	0.81	0.12	1.0		0.97	0.15	VUSA
WTCH	-0.84	0.54	-0.75	-0.05	0.8	0.01	0.97	0.97		0.22	WTCH
RAND	-0.09	0.07	0.09	0.28	0.55	-0.5	0.15	0.15	0.22		RAND
	INSTAL	ENX	IUHE	AALB	IAPD	CCEP	CSPX	VUSA	WTCH	RAND

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VUSA	+ 1.0	CSPX
WTCH	+ 0.97	CSPX
WTCH	+ 0.97	VUSA
IUHE	+ 0.89	INSTAL
CSPX	+ 0.81	IAPD
VUSA	+ 0.81	IAPD

High negative correlations

VUSA	- 0.9	INSTAL
CSPX	- 0.9	INSTAL
WTCH	- 0.84	INSTAL
VUSA	- 0.8	IUHE
CSPX	- 0.8	IUHE
WTCH	- 0.75	IUHE

Risk-Adjusted Indicators

There is a big difference between Pershing Stock performing well and Pershing Square Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Pershing Square's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
INSTAL	1.72	(0.82)	0.00	(2.83)	0.00	0.00	2.42	(4.04)	15.12
ENX	0.80	0.13	0.05	0.95	0.95	(0.92)	1.78	(1.25)	7.53
IUHE	0.47	(0.18)	0.00	(0.40)	0.00	0.00	0.72	(1.09)	3.78
AALB	1.23	(0.06)	0.00	(0.02)	0.00	0.00	2.91	(1.99)	9.89
IAPD	0.60	0.10	0.06	0.32	0.56	(0.66)	1.53	(1.12)	3.79
CCEP	0.90	0.04	(0.01)	0.20	0.97	(0.96)	1.83	(1.76)	5.01
CSPX	0.58	0.09	0.10	0.20	0.47	(0.65)	1.18	(1.16)	5.42
VUSA	0.58	0.09	0.10	0.20	0.48	(0.64)	1.18	(1.20)	5.49
WTCH	0.95	0.05	0.03	0.14	1.23	(0.95)	1.72	(2.26)	6.97
RAND	1.21	(0.06)	0.00	(0.03)	0.00	0.00	2.27	(2.47)	9.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pershing Square without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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